Kimco Realty Corp (KIM) is Downgraded by Citigroup to Neutral, Price Target at $32

Kimco Realty Corp (KIM) was Downgraded by Citigroup to ” Neutral” and the brokerage firm has set the Price Target at $32. Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on Jul 7, 2016.

Many Wall Street Analysts have commented on Kimco Realty Corp. Mizuho Initiated Kimco Realty Corp on Apr 14, 2016 to “Neutral”, Price Target of the shares are set at $28.50.

On the company’s financial health, Kimco Realty Corp reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Apr 27, 2016. Analyst had a consensus of $0.36. The company had revenue of $297.20 million for the quarter, compared to analysts expectations of $294.40 million. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 EPS.

Kimco Realty Corp opened for trading at $31.25 and hit $31.73 on the upside on Tuesday, eventually ending the session at $31.71, with a gain of 1.54% or 0.48 points. The heightened volatility saw the trading volume jump to 29,31,913 shares. Company has a market cap of $13,307 M.

In a different news, on May 10, 2016, Conor C Flynn (President and CEO) sold 58,300 shares at $29.72 per share price. According to the SEC, on Mar 30, 2016, Paul Westbrook (VP – Cheif Accounting Officer) sold 7,429 shares at $28.48 per share price. On Mar 17, 2016, Glenn Gary Cohen (EVP – CFO and Treasurer) sold 23,300 shares at $28.33 per share price, according to the Form-4 filing with the securities and exchange commission.

Kimco Realty Corp. (NYSE: KIM) is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is North America’s largest publicly traded owner and operator of open-air shopping centers. As of March 31, 2016, the company owned interests in 550 U.S. shopping centers comprising 88 million square feet of leasable space across 36 states and Puerto Rico. Publicly traded on the NYSE since 1991, and included in the S&P 500 Index, the company has specialized in shopping center acquisitions, development and management for more than 50 years.

Kimco Realty Corp

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